Is legal tender legal tender

1. digital currency is a kind of legal encrypted digital currency, which is not only a payment tool but also a currency. It is essentially different from Alipay and WeChat payment. Alipay, WeChat payment and mobile phone banks are all electronic money, not digital money. These are all payment methods based on electronic accounts, which are in essence just a process of informatization of legal currency, not digital currency in a strict sense
moreover, it is totally different from q-coin and bitcoin. Commonly known as q-coin and bitcoin, these belong to virtual currency. Compared with digital currency, the most fundamental difference lies in the difference of issuers

virtual currency is the electronization of illegal currency. The issuer is not the central bank, and it can only circulate in a specific virtual environment, such as Tencent Q coin and other game coins; Digital currency can be used for real goods and services transactions, but only the digital currency issued by the state is legal digital currency, bitcoin is illegal digital currency

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3. The only value that digital currency trading system brings us is that we can use digital currency to exchange legal currency. After all, digital currency is not legal currency and it is not mandatory. Digital currency is still a niche proct. The global recognition of digital currency is not high, especially for ordinary people
however, some of the so-called digital currency systems are deceptive in themselves. Authentic digital currency generally refers to bitcoin, Leyte currency, decent and other digital cryptocurrency.

4. China's legal digital currency refers to digital RMB, which is issued by the people's Bank of China in the form of digital legal currency. It is operated by designated operating institutions and exchanged to the public. Based on the broad account system, it supports the loose coupling function of bank accounts, and has the same price as banknotes and coins. It has value characteristics and legal compensation, and supports controllable anonymity. There are two key points in the concept of digital RMB. One is that digital RMB is legal tender in digital form; Another point is that it is equivalent to banknotes and coins. Digital RMB is mainly positioned at M0, that is, banknotes and coins in circulation
the central bank's digital currency has national credit and is equivalent to legal currency. Its functional attributes are exactly the same as those of traditional paper currency, but it is in digital form. Digital currency is concive to recing transaction costs, improving financial efficiency, and preventing money laundering and other illegal transactions

warm tips: the above explanation is for reference only
response time: January 6, 2021. Please refer to the official website of Ping An Bank for the latest business changes
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